【券商聚焦】交银国际维持哔哩哔哩买入评级 看好经营杠杆持续释放促进盈利能力不断提升

金吾财讯
Aug 25, 2025

金吾财讯 | 交银国际表示,哔哩哔哩(09626)2Q25收入73亿元,同比增20%,基本预期。经调整归母净利润5.6亿元,略好于该机构预期的 5.3亿元。《三谋》拉动游戏收入同比增60%。广告收入同比增20%,仍受益于流量增长(总时长同比+13%),产品基建完善及AI技术应用带动eCPM/效果广告收入同比增10%+/30%+。VAS收入同比增11%,其中充电业务翻倍增长。该机构预计3季度收入同比...

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